Anglais
Canada’s main stock index reaches highest level since Oct. 5

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Canada’s main stock index posted a triple-digit gain Friday after oil hit a three-month high to extend the market’s winning streak to six weeks.
The S&P/TSX composite index closed up 142.26 points to 15,838.24, after hitting a peak during the day of 15,866.60. That’s the highest level since Oct. 5.
The Toronto market is just 4.4 per cent off the all-time high set last July and up 10.6 per cent so far this year.
Allan Small, senior investment adviser at HollisWealth, foresees the positive momentum continuing as long as geopolitical issues, especially the trade dispute between the U.S. and China, remain positive.
« Yes the year-to-date numbers look really strong in such a short period of time, but we’re just getting back to where we were trading at the end of the summer and early fall, » he said in an interview.
« Let’s get back from the highs … and that’s where things start to get a little bit more dicey. You may see the market start to trade sideways for a little bit until we get some sort of clarity on future and I think that’s where we kind of stall out. »
North American markets increased by as much as 1.7 per cent on continuing optimism about a trade deal with China after U.S. President Donald Trump told reporters he might extend the March 2 deadline for the imposition of tariffs, said Small.
We’ve heard some positive things come out of the administration over the past few days and I think it is no doubt that that’s what’s carrying the markets higher.– Allan Small, senior investment adviser at HollisWealth
In New York, the Dow Jones industrial average was up 443.86 points at 25,883.25. The S&P 500 index was up 29.87 points at 2,775.60, while the Nasdaq composite was up 45.46 points at 7,472.41.
« We’ve heard some positive things come out of the administration over the past few days and I think it is no doubt that that’s what’s carrying the markets higher, » said Small.
Energy sector gains
In Toronto, the key energy sector gained 3.2 per cent as Frontera Energy Corp. increased eight per cent, followed by Encana Corp., Canadian Natural Resources and Suncor Energy Inc.
The April crude contract was up $1.19 at $55.98 US per barrel, the highest level since mid-November on a weaker U.S. dollar and support from production curtailments by OPEC.
The March natural gas contract was up 5.2 cents at $2.62 per mmBTU.
The Canadian dollar traded at an average of 75.38 cents US, compared with an average of 75.20 cents US on Thursday.
The April gold contract was up $8.20 at $1,322.10 an ounce and the March copper contract was 2.4 cents at $2.80 a pound.
The Toronto market had widespread gains as industrials and financials rose.
The positive streak was also extended for another week on strong corporate earnings from several firms, including TransCanada Corp. and Manulife Financial Corp. In addition to beating analyst estimates, several raised their dividends and share buybacks.
« All the stuff that’s great for investors and adding to this positive feel for the market, » he added.
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Anglais
‘Business as usual’ for Dorel Industries after terminating go-private deal

MONTREAL — Dorel Industries Inc. says it will continue to pursue its business strategy going forward after terminating an agreement to go private after discussions with shareholders.
« Moving ahead. Business as usual, » a spokesman for the company said in an email on Monday.
A group led by Cerberus Capital Management had previously agreed to buy outstanding shares of Dorel for $16 apiece, except for shares owned by the family that controls the company’s multiple-voting shares.
But Dorel chief executive Martin Schwartz said the Montreal-based maker of car seats, strollers, bicycles and home furniture pulled the plug on a deal on the eve of Tuesday’s special meeting after reviewing votes from shareholders.
“Independent shareholders have clearly expressed their confidence in Dorel’s future and the greater potential for Dorel as a public entity, » he said in a news release.
Dorel’s board of directors, with Martin Schwartz, Alan Schwartz, Jeffrey Schwartz and Jeff Segel recused, unanimously approved the deal’s termination upon the recommendation of a special committee.
The transaction required approval by two-thirds of the votes cast, and more than 50 per cent of the votes cast by non-family shareholders.
Schwartz said enhancing shareholder value remains a top priority while it stays focused on growing its brands, which include Schwinn and Mongoose bikes, Safety 1st-brand car seats and DHP Furniture.
Dorel said the move to end the go-private deal was mutual, despite the funds’ increased purchase price offer earlier this year.
It said there is no break fee applicable in this case.
Montreal-based investment firm Letko, Brosseau & Associates Inc. and San Diego’s Brandes Investment Partners LP, which together control more than 19 per cent of Dorel’s outstanding class B subordinate shares voiced their opposition to the amended offer, which was increased from the initial Nov. 2 offer of $14.50 per share.
« We believe that several minority shareholders shared our opinion, » said Letko vice-president Stephane Lebrun, during a phone interview.
« We are confident of the long-term potential of the company and we have confidence in the managers in place.”

Anglais
Pandemic funds helping Montreal businesses build for a better tomorrow

Many entrepreneurs have had to tap into government loans during the pandemic, at first just to survive, but now some are using the money to better prepare their businesses for the post-COVID future.
One of those businesses is Del Friscos, a popular family restaurant in Dollard-des-Ormeaux that, like many Montreal-area restaurants, has had to adapt from a sit-down establishment to one that takes orders online for takeout or delivery.
“It was hard going from totally in-house seating,” said Del Friscos co-owner Terry Konstas. “We didn’t have an in-house delivery system, which we quickly added. There were so many of our employees that were laid off that wanted to work so we adapted to a delivery system and added platforms like Uber and DoorDash.”
Helping them through the transition were emergency grants and low-interest loans from the federal and provincial governments, some of which are directly administered by PME MTL, a non-profit business-development organization established to assist the island’s small and medium-sized businesses.
Konstas said he had never even heard of PME MTL until a customer told him about them and when he got in touch, he discovered there were many government programs available to help his business get through the downturn and build for the future. “They’ve been very helpful right from day one,” said Konstas.
“We used some of the funds to catch up on our suppliers and our rents, the part that wasn’t covered from the federal side, and we used some of it for our new virtual concepts,” he said, referring to a virtual kitchen model which the restaurant has since adopted.
The virtual kitchen lets them create completely different menu items from the casual American Italian dishes that Del Friscos is known for and market them under different restaurant brand names. Under the Prasinó Soup & Salad banner, they sell healthy Greek options and their Stallone’s Sub Shop brand offers hearty sandwiches, yet the food from both is created in the same Del Friscos kitchen.

Anglais
Downtown Montreal office, retail vacancies continue to rise

Some of downtown Montreal’s key economic indicators are heading in the wrong direction.
Office and retail vacancies in the city’s central core continued to climb in the fourth quarter of 2020, according to a quarterly report released Thursday by the Urban Development Institute of Quebec and the Montréal Centre-Ville merchants association. The report, whose first edition was published in October, aims to paint a socio-economic picture of the downtown area.
The survey also found office space available for sublet had increased during the fourth quarter, which may foreshadow even more vacancies when leases expire. On the residential front, condo sales fell as new listings soared — a sign that the downtown area may be losing some of its appeal to homeowners.
“It’s impossible not to be preoccupied by the rapid increase in office vacancies,” Jean-Marc Fournier, the former Quebec politician who now heads the UDI, said Thursday in an interview.
Still, with COVID-19 vaccinations set to accelerate in the coming months, “the economic picture is bound to improve,” he said. “People will start returning downtown. It’s much too early to say the office market is going to disappear.”
Public health measures implemented since the start of the pandemic almost a year ago — such as caps on office capacity — have deprived downtown Montreal of more than 500,000 workers and students. A mere 4,163 university and CEGEP students attended in-person classes in the second quarter, the most recent period for which figures are available. Border closures and travel restrictions have also brought tourism to a standstill, hurting hotels and thousands of local businesses.
Seventy per cent of downtown workers carried out their professional activities at home more than three days a week during the fourth quarter, the report said, citing an online survey of 1,000 Montreal-area residents conducted last month.

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